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ValentinkaMS [17]
3 years ago
8

Otto and Monica are married taxpayers who file a joint tax return. For the current tax year, they have AGI of $99,600. They have

excess depreciation on real estate of $59,760, which must be added back to AGI to arrive at AMTI. The amount of their mortgage interest expense for the year was $19,920, and they made charitable contributions of $9,960. They have no other itemized deductions. If Otto and Monica's taxable income for the current year is $69,720, determine the amount of their AMTI.
Business
1 answer:
trapecia [35]3 years ago
7 0

Answer: $129480

Explanation:

Based on the information given, the amount of their AMTI will be calculated as:

AGI = $99600

Add: Excess Depreciation on Real Estate = $59760

Less: Mortgage Interest Expenses = $19920

Less : Charitable Contribution = $9960

AMTI = $129480

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<u>90% </u>of a manufacturer's profit and income comes from repeated purchases from returning customers.

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8 0
3 years ago
Muy Bueno Bakery Company sells three different products. Currently they are not able to meet all of their customers' demand. Usi
cestrela7 [59]

Answer:

c. Pie

Explanation:

In order to determine which product is the most profitable, we must calculate the contribution margin per hour:

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4 0
3 years ago
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Answer:

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